Jyothy Labs -
Q4 results and concall highlights -
Q4 outcomes -
Revenues - 660 vs 617 cr, up 7 pc ( volume growth @ 7 pc )
Gross Margins @ 49.5 vs 45.7 pc
EBITDA - 108 vs 91 cr, up 19 pc ( margins @ 16 vs 15 pc )
PAT - 78 vs 59 cr, up 31 pc
Advertisement and Promotional spends @ 60 vs 46 cr ( at 9 pc of sales vs 7.5 pc of sales )
FY 24 outcomes -
Revenues - 2757 vs 2486 cr, up 11 pc ( volume growth @ 9 pc )
Gross Margins @ 49 vs 42 pc
EBITDA - 480 vs 316 cr, up 52 pc ( margins @ 17 vs 13 pc )
PAT - 369 vs 240 cr, up 54 pc
Advertisement and promotion spends @ 228 vs 174 cr, up 30 pc ( at 8.3 vs 7 pc of sales YoY )
Cash on balance sheet @ 618 cr
Breakup of revenues, full yr growth -
Fabric care ( main wash ) - 34 pc, grew by 12 pc
Fabric care ( post wash ) - 9 pc
Household Insecticides - 11 pc, sales were flat in FY 24
Personal Care - 9 pc, up 21 pc
Dishwashing - 33 pc, grew by 8 pc
Others - 4 pc
Brands … Mkt share
Exo … 14 pc
Pril … 13 pc
Ujala Detergent … 23 pc ( in Kerala )
Ujala Whitener … 84 pc
Maxo … 8 pc in Liquids, 23 pc in Coils
Other Promising brands - Henko, Ujala - Crisp and Shine, Margo, Mr White, More Light
Expanded direct distribution reach to 12 lakh outlets vs 11 lakh outlets in the previous year. Will continue to expand direct distribution by 8-10 pc / yr for the foreseeable future
New launches in FY 24 included - Henko Liquids, Ujala Liquid detergent, Margo Neem Naturals (launched 3 new Margo variants this yr)
Seeing gradual pickup in the rural markets - augurs well for next FY
Both - Ujala and Henko liquid detergents are doing well - in South of India Mkts and Modern trade
Company has lined up a few new product launches. Did not disclose their names / categories
Aiming for 16-17 pc EBITDA margins for full FY 25 after spending aggressively behind existing brands ( specially the liquid household insecticides ) and new launches
Company’s percentage of revenues from South of India @ 38-39 pc
Disc : Holding, Biased, Not SEBI registered
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